Market shift

55 North Street, 2001 construction and priced at $5.495 million is pending just 17 days after being put up for sale. As I noted when I wrote about this property just two weeks ago, the same house sat on the market from June 6, 2017 to October 31, 2019, starting at $5.750 and dropping all the way to $4.1 before the owners gave up and let the listing expire.

As Publius commented when my earlier post went up, “I believe the economic term for this approach is ‘price discovery’ …”

I guess Columbus has landed.